Tom Ferry is one of the most well known real estate success coaches in the country - and luckily for us, he frequently broadcasts free, practical advice for real estate pros in his video blog. Recently, Tom tackled the always challenging issue of how to consistently build, nurture and convert real estate leads to support a thriving business. Below are the cliff notes from his show - Episode 25 - titled "7 Steps to Generate More Real Estate Business". During his show, Tom shared insider tips on how to go about building a scalable, sustainable, healthy real estate business. Let's check it out!
Tom Ferry Cliff Notes: Generate More Real Estate Business
Know Your Ideal Outcome:Be focused on absolutely what you want! Before any call, email, or text you must know your outcome. Ask yourself, “what am I trying to achieve?” Once you've identified your goal, be determined to make progress with leads. For example, when calling a client - you should always have a clear outcome you want to achieve. Perhaps you want to set an appointment or see a listing - just make sure you aren't calling with a goal of just checking up on your leads.
Always Build Rapport:Don’t assume rapport, instead, be diligent about watching to see how leads interact and take the time to match their tonality, volume and rate of speech. Failing to do so can create a disconnect. Plus, talking to your leads and clients the way they want to be talked to will ultimately help you close more deals because "people do business with people that are just like them."
Watch Your Language:
We're not talking about swearing here (though for best results, I highly recommend you don't swear at leads or clients!). We're talking about speaking in terms that your contacts will understand. In other words, “don’t use your Realtor language on them, stay in their model of the world.”
Be Open to Calls, Voicemails, Texts, Emails and Videos:
Leads respond differently to each medium of communication. Find out how they like to be contacted and respond accordingly. Videos can provide you with a wealth of information because some video services allow you to see if the recipient received, opened or watched your video (and how many times they watched it).
Master the Basics of Pre-Qualification:Ask these questions:
What's your goal - buy or sell? How soon? Why?
Who else is involved? What's important to you? What's your plan B? What has to happen in order
for you to move forward?
Capture all the details:
There are two major reasons why you should capture as many details as you possibly can. One - the more details you have, the more context you can add to your lead's or client's situation. Two, the more information you capture the easier it is to find a point of reference and build rapport.
Put Them on a Follow-Up Plan:As leads begin to age, you should adjust your follow-up accordingly and scale back over time - but never stop following up altogether. When you send follow-up messages, be sure to personalize your content and use your detailed notes to provide information that is going to pique their interest based on what they said is most important to them.
You can also automate this process with Conversations - learn more.
Never Accept a “No” or “Maybe” When a “Yes” is Possible:The bottom line is, you need to be assertive and confident if you really want to grow your business. Think about what compels your leads and explain how your services can be an asset. Be prepared to pitch that leads can't refuse.
Follow Tom's advice to build a strong, healthy real estate business with endless growth potential!